By Sinéad Carew NEW YORK (Reuters) – Stock markets around the globe fell on Friday and oil prices settled lower after U.S. economic data prompted bets that the Federal Reserve would raise interest rates more than expected and keep them higher for longer to battle stubborn inflation. Friday’s data showed a year-over-year 0.8% increase in…
By Bianca Flowers and Aishwarya Nair (Reuters) – Deere & Co raised its annual profit forecast on Friday after beating Wall Street estimates for the latest quarter on higher revenue for its high-horsepower tractors and an increase in spending from construction customers. Shares of the world’s largest farm equipment maker rose 6.1%. The industrial bellwether,…
By Daina Beth Solomon and Diego Oré MEXICO CITY (Reuters) – Tesla Inc’s quest to build its first factory in Mexico reveals some of the shaky underpinnings of the country’s rise as a nearshoring darling, with proximity to U.S. buyers weighed down by concerns over power supply and political interference. Mexican President Andres Manuel Lopez…
By John O’Donnell, Francesco Canepa and Alexandra Schwarz-Goerlich FRANKFURT/VIENNA (Reuters) – Austria’s Raiffeisen Bank International said on Friday it hadreceived a request for information from the United States’ sanctions authority about its business related to Russia. The bank said that it had received the request from the U.S. Treasury Department’s Office of Foreign Assets Control…
ROSSLYN, Va. (Reuters) – The unexpectedly strong January jobs report and retail sales may have been influenced by seasonal factors, and don’t necessarily point to overly strong demand that would raise concerns about efforts to control inflation, Richmond Federal Reserve president Thomas Barkin said on Friday. “I am not taking as much signal from the…
WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) on Friday proposed a $175,000 civil penalty against SpaceX for failing to submit launch collision analysis trajectory data to the agency prior to the August 2022, launch of the Starlink Group 4-27 mission. The FAA said SpaceX was required to submit the data directly to the agency…
By Karen Brettell NEW YORK (Reuters) – The dollar hit a six-week high against a basket of currencies on Friday as traders ramp up bets that the Federal Reserve will hike rates higher than previously anticipated, and hold them there for longer, as it battles still-high inflation while the employment picture also remains strong. Two…
PARIS (Reuters) – French jet engine maker Safran on Friday backed plans by Airbus to raise its core single-aisle production above 65 jets a month, but warned that fragile global supply chains would determine whether planemakers were able to hit targets. The company, which is General Electric’s joint partner in the world’s biggest engine maker…
By Victoria Waldersee STUTTGART (Reuters) -Mercedes-Benz Group on Friday warned of lower earnings this year amid economic uncertainty, and said it would look to sell more vehicles directly in major markets such as Britain and Germany as it continues to target high margins on flat volume. The premium automaker expects a lower adjusted return of…
By Pratima Desai LONDON (Reuters) – Russia is likely to limit exports of key metals such as nickel and palladium if the United States imposes steep taxes on imports of aluminium from Russia, analysts say. While Russian aluminium accounts for only a small portion U.S. supplies, nickel is vital for the aerospace industry and electric…
